New Industry Research on Healthcare Insurance Eligibility Verification Processes Now Available

Patient insurance eligibility verification is a critical issue in the healthcare industry. The process is fraught with problems — from inaccurate information and time-consuming patient registration to high claim denials on the backend.

maxRTE, an industry leader in providing simple, dependable and flexible insurance eligibility software, partnered with Healthcare Fiscal Management, Inc. (HFMI), a healthcare provider payment services firm, to co-sponsor a study on insurance eligibility verification processes in hospitals, clinics and health systems. The insurance verification research was conducted by a third party, KC Associates.

Some Key Findings
Only 41% report accurate patient information; nearly 90% report that patients have a less-than-good understanding of their benefits; greater than 70% report that eligibility determinations are retroactively reviewed; and nearly 30% report that insurance-eligible patient claims are overlooked until they reach early-out/bad debt status.

“Some of the findings in the report surprised us,” said Don Slusarski, a Principal at maxRTE. “At the same time, a number of things that we had always thought to be true, are. A prime example is how many organizations are required to still use manual processes and access multiple sources to be able to do an eligibility-check, which really slows down the process.”

To get a no-cost copy of the report, visit www.maxRTE.com or call 1-800-584-5545.

About maxRTE
maxRTE simplifies insurance eligibility by offering software that provides instant results of a patient’s insurance benefits data at the point-of-service. The software eliminates the need for manual processes and the time-consuming aspect of logging into multiple systems, which improves claims payments and helps to prevent costly collections on the back-end.

maxRTE is a web-based subscription service powered by innovative technology. The technology is simple-to-use and reliable and adaptable to meet the needs of each healthcare facility.